Real Estate News 01/15/2024

Today’s News Synopsis:

A key provision of President Joe Biden’s Saving on A Valuable Education, or SAVE income-driven repayment plan, will be implemented next month, providing loan forgiveness for more borrowers.

In The News:

Yahoo Finance– “Student loans: Accelerated provision of SAVE plan provides forgiveness for more borrowers in February“ (01-1224)

“The latest round of student loan forgiveness moves up the timeline by six months.”

FOX Business –  “The ‘old American Dream died,’ Realtor details salary needed to buy a home, afford a middle class life in 2024” (01-14-2024)

“Americans now need to make $120K a year to afford a typical middle-class life and qualify to purchase a home, one expert discusses.”

CBS News-  “Converting vacant office buildings into apartments” (01-11-2024)

“This analysis projects which counties are at the highest risk of an “insurance correction” due to fire, wind, and flood risk.”

MPA Mag –  “Mortgage rates see uptick after consistent decline” (01-12-24)

“US mortgage rates increased slightly over the past week, breaking the trend of continuous decline over the past two and a half months.”

Yahoo Finance –  “Housing: Bidding wars erupt as 2024 kicks off, with some listings seeing over 30 offers” (01-14-24)

“The volume of applications for a mortgage increased 9.9% from one week earlier on a seasonally adjusted basis for the week ending Jan. 10, according to the Mortgage Bankers Association (MBA). ”